FXEMPIRE
All
Ad
Advertisement
Advertisement
Vladimir Zernov
Add to Bookmarks

Silver Video 19.04.21.

Silver Retreats As Treasury Yields Move Higher

Silver is currently trying to settle below the support at the 50 EMA at $25.65 while the U.S. dollar is losing ground against a broad basket of currencies.

Advertisement
Know where Silver is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

The U.S. Dollar Index has recently managed to settle below the support at 91.30 and made an attempt to settle below the next support at the 91 level. A move below this level will push the U.S. Dollar Index towards the support at 90.70 which will be bullish for silver and gold price today.

It should be noted that Treasury yields moved higher at the beginning of the week which served as a material bearish catalyst for gold and silver. Currently, gold is moving towards the nearest support level which is located at the 50 EMA at $1760. In case gold manages to settle below the 50 EMA, it will head towards the next support level at the 20 EMA at $1745 which will be bearish for silver.

Gold/silver ratio is currently trying to settle back above the resistance at the 50 EMA at 68.60. If gold/silver ratio settles above this level, it will get to another test of the next resistance level at 69 which will be bearish for silver.

Advertisement

Technical Analysis

Silver declined below the support at $25.85 and made an attempt to settle below the next support which is located at the 50 EMA at $25.65.

If silver manages to settle below the 50 EMA, it will head towards the next support which is located at $25.55. A move below this level will open the way to the test of the 20 EMA level at $25.45. In this light, silver will likely get material support in the $25.45 – $25.65 area.

On the upside, a move above $25.85 will push silver towards the resistance at $26.25 – $26.30. This resistance area has been tested several times in recent trading sessions and proved its strength. If silver gets above $26.30, it will head towards the resistance at $26.65. A successful test of this level will open the way to the test of the resistance at $27.00.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker